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Monday, December 11, 2017

Gone Kaput : Banks Do Not Want To Finance Malaysian Oil And Gas Industry

Banks more cautious lending to O and G sector in recent years The Edge said.

CEO Vaidyanthan Nateshan's  De Raj Group AG got approved listing in Frankfurt forced to go to Europe as bankers refused to provide support.

bankers telling us they won’t touch oil and gas with barge pole. 
So, I’m taking company to Europe.

not equity market that is tough, it’s debt market. 
We need financing for executing projects.

M'sian debt market dead … asset cover 2.5 to 3 times 
in Europe, it is 0.8 times

O and G companies more difficulties securing financing 
because there is no indication where industry going 

My comments :  This was before Petronas announced that they are shutting down 10 out of 20 jacket rigs and 60% of their tender assisted rigs (tenders are barges or oil rig type floating platforms). 

For a quick tutorial on oil rigs, please see these two videos :

The sun is setting on oil and gas. The morons in the gomen do not know what to do. They are going to eat grass soon.

If you think the GST is needed to pay the salaries of 1.6 million civil servants, then please calculate the hundreds of millions of GST collections that WILL DISAPPEAR  when you shut down half the oil rigs in the South China Sea.

There will be a Domino Effect. Listed oil and gas companies will go bust.

There are FOUR supply bases (ports) in this country that service the oil and gas industry in the South China Sea - Kemaman Supply Base (which I helped finance in the 1990s), the Ramunia supply base and there are one each in Sarawak and Sabah. 

They will all be suffering. Imagine the amount of GST collection that will be lost. No business, no sales, no GST.

I think those cute shopping malls in Kemaman and Kerteh must also be suffering poor sales. No GST or much less GST.

So how is the gomen going to pay the salaries of 1.6 million Civil Servants?

There is an easy way - a super duper easy method. Tak payah sekolah tinggi-tinggi pun boleh faham.

Create new sunrise industries. New industries that can create new wealth. 

How does the gomen do it? 
You dont do anything.  
Just get out of the way. 
Just get lost.

The people know what to do. 
The private sector knows what new industries to create. 
The gomen must just get the hell out of the way.

The country has become poor now (correction - the Malays have become poorer now) because of all the artificial and useless restraints put on the economy.

When you place so many chokeholds on the economy, you actually strangle the people's creativity. The result is you become poor. This is what is happening now.

We did not see the negative effects of this "choking the economy" for some time because we were able to use oil money to grow the economy - or a substantial part of the economy.  

The oil money went to grow the bumiputra economy. There were spinoffs into the larger economy.  Bumiputras got the contracts and they subcontracted it out to the non bumiputras.

When oil was at US100 per barrel the gomen just became blind to all reality.

Before that, oil was at US40 per barrel. But we had a good leader who did not steal the money. Still oil money  was used to support the bumiputra economy. And it trickled out to the larger economy.

The oil money was able to paper over or cover up all the chokeholds and strangle holds that existed in the economy.  

Malaysians pay THREE, FOUR or FIVE TIMES world market prices for our cars. 
You need APs to import christmas turkeys.
You need APs to import cabbages ??
To catch fish in Sarawak they need a fishing license from Putrajaya!!

These are all chokeholds on the economy.
But we had oil money. 
So we did not mind paying such high prices.
Oil money helped to paper over all these chokeholds.

Now the oil money is gone. Or disappearing very quickly. 
The country is slowing down. 
The GST collections will also slow down.
How are the 1.6 million Civil Servants going to be paid?
The Malays are becoming poorer.

What do we do?
The solution is simple.
Undo the useless chokeholds.
They were never of any use at all. 
Gomen get out of the way.

The people know what to do to move the economy.
Remove all the useless chokeholds and strangulation points.

Imported basmathi rice is cheaper in Singapore than in Malaysia.
Singapore does not even grow rice.
This is because Bernas does not want to lose its monopoly position. 

Solar panels for rooftop electricity farming are more expensive in Malaysia than in California.  Because there are restrictions and licenses required to import solar panels.

Elon Musk is a 21st century tech genius.
His  products (like his cost saving energy packs) are unheard of in Malaysia. 
Because there are restrictions and licenses required.
TNB does not want to lose its "monopoly" over power production.

So Malaysians pay higher and higher prices.
It was possible when there was plenty oil money.
We wasted so much of our oil money.

Now the oil money is gone.
So we cannot pay for all this wasteful behaviour.

And remember, the oil money was burned to fund the bumiputra economy.
Now the gomen cannot even collect GST. Just wait and see.

Free up the economy. 
Let the people do what they can do. 
Then we just follow our own Elon Musks and our own Jack Mas. 

The easy money days are over.

Sunday, December 10, 2017

Malaysia Declares War On Israel ?? Are You Kidding ??

My view is that Hishamuddin Hussein Onn gets very bad advice or he is being sabotaged with bad advice.  

Hisham has bungled seriously with his comment that the Malaysian military is ready to head to the Middle East. 

Yesterday after Malay Mail reported on the story they had to pull it down. Here is The Malay Mail's screen page :

Oops indeed. However, before the Malay Mail took down the story, other news sites had already carried Malay Mail's report. One of them was Yahoo News Singapore. Oops !! So here it is. 

Malaysian military ready to roll out to Jerusalem, Hisham says
The Malay Mail Online
9 December 2017

Malaysian military ready to roll out to Jerusalem, Hisham says

MAF prepared to head to Middle East if services needed there

following US govt’s recognition of Jerusalem as Israeli capital

Umno VP Hishammuddin Hussein said today.

Trump admin draws widespread condemnation from Muslim world

We are ready for orders from Agong Hishammuddin said 

in his winding-up speech at 71st Umno general assembly 

My comments :  "IF the Agong orders" ??  Ok so the declaration comes with a 'subject to"   -  a deft "taichi"  to the Agong.    I think the YDP Agong may be surprised as well. 

This tantamounts to a declaration of war against another country. It is certainly a declaration of hostile intent. And not just any country but Israel.

Most certainly this is grandstanding by Hisham in front of the UMNO General Assembly. It was not a serious threat against Israel. 

Bro, you should not have said such things.

Saudi Arabia will not be happy either. 

Saudi Arabia (where you have sent our troops to "help" Saudi Arabia bomb Yemen) is now a close ally of Israel. 
Israel is training Saudi troops on the Tiran and Sanafir Islands in the Red Sea. 
Saudi airspace is now open to the Israeli airforce. 
Saudi Arabia and Israel have exchanged IFF codes for their fighter aircraft. 
IFF is 'Identification Friend or Foe'. 

You will also be placing our troops unnecessarily in harm's way. 
You have already created logistical and planning nightmares for the Armed Forces chiefs.  They will most certainly react to your speech.  You are the Defense Minister.

Our Armed Forces are not equipped or trained to fight a land war or an air war in the Middle East, especially against Israel.   They will be decimated. Plus, where are you going to get the money to pay for such a misadventure.

Just for your information here are some military facts about Israel.

1. Israel declares air superiority in the Middle East for the next 40 years

"The announcement of the operationalization of the [F-35] Adir aircraft comes at a time in which the IAF is operating on a large scale on a number of fronts in a dynamic Middle East," said IAF commander Brig-Gen. Amikam Norkin. He added that the F-35s will equip Israel to handle "constantly evolving and complex challenges" in the region.

My comments :  After the US Airforce, the Israelis are the second country in the world to fly the latest F35 stealth fighter.  Not only that but the Israelis have already "reengineered and reconstructed" the American F35. The entire avionics and flight software for the Israeli F35s are designed and Made in Israel. The Israeli F35 has been re-engineered to carry Made in Israel missiles and bombs. They have also renamed the F35. They call it the Adir. The Adir is possibly more advanced and more capable than the American F35. 

2. Jericho 3 ICBMs can hit Hisham's house within 50 feet of accuracy.

The Israeli Jericho III ICBM is among the top FOUR ICBMs in the world in terms of range - which is 11,500 km or over 7,100 miles.  So they can hit Hisham's house from Israel.

The range of the Jericho III is substantial, encompassing the entirety of the Middle East, Europe, Africa, Asia, and most of North America, South America, and North Oceania. 

As such, the Jericho III enables the Israel Defense Forces (IDF) to launch a nuclear warhead into almost any location on Earth. At relatively closer-range targets, the reentry velocity is such that the Jericho III is believed to be largely immune to all operational missile defense systems.

The warhead of this missile is estimated to weigh 1 000 kg, and conventional, biological, chemical, and nuclear warheads are believed to exist, though the full range of warhead options are impossible to confirm due to the secretive nature of the IDF missile command.

Unless we have Patriot missiles to protect us, better not mess with the Israelis.  

Will they fire a Jericho III at Malaysia?  If we attack them, they might just do it. 

It will be a huge show of force to the rest of the Islamic world. 

And who will care if Malaysia gets bombed? 
You think the Arabs and Saudis will come to our aid? 
Or protest on our behalf?  



3.  Israeli Navy's Dolphin class submarines.

  • The Dolphin-class submarine is capable of carrying 16 torpedoes and submarine-launched cruise missles (SLCMs).
  • The cruise missiles have a range of at least 1,500 km (930 mi) 
  • Equipped with a 200 kiloton nuclear warhead containing up to 6 kilograms (13 lb) of plutonium. 

The Israelis have the super quiet Dolphin submarines which they have been using in super mysterious ways. There is believed to be a nuclear weapons capable Israeli submarine on permanent patrol - sometimes off the coast of Iran. 

These are diesel electric submarines with "AIP" or air independent propulsion which gives them a submerged endurance of up to 30 days.  

They could sail submerged into the Straits of Melaka if they wanted to.

I really dont think our Armed Forces have the capacity to fend against all this military hardware. 

Not to mention the nasties at the Mossad who are now most likely tailing Hishamuddin.  Lets not get carried away bro. 

At our age, you dont want to start something that you cannot finish.

Saturday, December 9, 2017

No 'High Income Nation', No Economic Growth At Media Prima

Someone sent me this (Thank you Dato).

After VSS, Media Prima offers workers ‘career break’

Published 7 Dec 2017 

EMPLOYEES of media group on no-pay career break
sign not all is well amid glowing reports of M'sian economy.

  • meeting at Media Prima head office in Bandar Utama
  • employees to go on unpaid "leave" 6 months to a year
  • work half month for half pay.

to commence next month.

earlier in 2017 Media Prima VSS for employees above 50 to cut costs

recorded net loss of RM171m for 1st six months 
lower revenue from tv and newspaper ads
recorded net loss of RM101.08m in 3rd quarter of 2017

2014 implemented mutual separation scheme. 39 people accepted

owns TV3, NTV7, 8TV, TV9, NST, BH, Metro, FlyFM, oneFM, HotFM, KoolFM 

My comments :  Media Prima is ground zero of the "ketuanan" gangster philosophy.  See where that crap has taken you.  

Slowly but surely they are going bust. 
Maybe the Chinese (from China) can bail them out. 
Maybe the Nanyang Hua-ren Nan-ban Nesan will take over Media Prima. 

  • Giant tutup kedai
  • AEON Big tutup kedai
  • Proton sold to China
  • Petronas "tutup kedai" 50% of their oil rigs
  • NST tutup kedai their printing plants
  • now Media Prima also tutuping kedai. 
Folks, 2018 is going to be the year of tutup kedai for many companies, especially the ketuanan owned corporates and companies that have been surviving on easy money, buta money, gomen kontrak dan projek and monopolies all this while. 

The "easy money, buta money, gomen kontrak dan projek and monopolies" has just made them fat, arrogant, non competitive and not sustainable. Out you go. 

My friend who sent me this said Malaysia will face recession in 2018.   Maybe yes / maybe no.

There are non bumi sectors of the economy that are actually doing better.
Since the Ringgit dropped, exports have increased. 
This is the largely the Chinese sector. So those Chinese are doing very well. 
Plus all the people (Malay, Chinese, Dusun, Indian) employed by the Chinese export sector will also get good wages.

So to all the young people (Malays, Chinese, Indians, Dusuns, Ibans) go and look for jobs with these export companies.  No need to kiss their butt. Just work hard and learn the trade. And dont forget to say thank you.

Not the entire economy is collapsing. Those businesses that have been exposed to market forces seem to survive better. They have learned to compete  and survive. They have learnt to be lean and efficient. No easy money, no free handouts for them.

They are now propping up our economy. 

Each time you see a lorry, truck or van carrying goods and barang on any road, pull over and give way for them. They are a very good omen. It means 'ekonomi depa masih jalan lagi'.

Imagine if all the lorries, trucks and vans are parked by the roadside because they do not have any barang to carry. We will all be eating paku pakis and nasi kicap.